Report Are California's Ious A Test For The Dollar? in House prices and the economy Posted August 6, 2009 I agree that the game there is over. Unluckily for us, we have played the same game. The cash buyers of houses in the last 3 months or so just haven't realized it quite yet. Maybe they have realised it, which is why they're turning their pieces of paper (cash) into a solid asset (a home to live in)?